The Freedom Factory

In a sluggish economy, bartering is becoming an increasingly popular alternative to cash for businesses and individuals. Indeed, the practice of our pre-currency forefathers is coming back with such a vengeance that there are several websites dedicated to facilitating the practice. [Just like the kind great-great-great grandma used]. Continue Reading

Since I, along with most people, am feeling thrifty, I searched high and low for thrifty tips. Here are some of my favorite  websites dedicated to saving a few more pennies. Continue Reading

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The Federal Reserve is creating tens of trillions of new dollars, debasing our currency, and silently taxing us all through inflation. With tens of trillions in federal budget deficits on the horizon there is nowhere for the US dollar to go, but down.

Refuse to be a victim of this flawed financial system, buy gold and silver NOW!

An often overlooked element to lifetime financial planning is the value of human capital. It can be an ephemeral concept, but if analyzed properly has a discrete value that depends on some basic assumptions. In an interview with CNNMoney.com, retirement expert Moshe A. Milevsky (associate professor at York University’s business school in Toronto) illustrates the importance of considering your future earning power in the labor market in addition to traditional financial assets. We are often better off than we realize, but that’s only if we efficiently translate human capital potential to tangible future value.

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Do children today seem a bit out of control? A bit spoiled? From my experience the absolute best thing you can teach your young ones is that we live in a world of finite resources. Once they learn that basic premise they will be forced to learn how to value things in their lives, rank order them, and apply resources accordingly. Continue Reading

Are you crunched for cash and finding rising fuel costs eating up too much of your budget? There’s a ton of information on the web giving tips on how to cut back on driving costs; everything from “hypermilling” to keeping your tires fully inflated. What’s often overlooked is simply determining whether you can get rid of your car entirely.  Continue Reading

June employment statistics were released by the U.S. Department of Labor last week showing the national unemployment rate holding steady at 5.5%.

Headlines suggested stock markets reacted favorably to the news, since it fell in line with Wall Street expectations. However, there’s more to the story that gives cause for alarm.

The Wall Street Journal reported that the number a long term unemployed, those without jobs for over 26 weeks, has risen 37% in the last year. meanwhile, the overall unemployment rate has broken a four-year downward trend and is now on the rise.

Coupled with rapidly deteriorating stock and real estate markets, and rising inflation and commodities prices (including energy and food) it’s time for those of who are not multi-millionaires to start budgeting. Continue Reading

Cars are expensive. They are probably the largest depreciating asset people spend money on in their lives. If you spend $500 on car payments every month from the time you are 20 till when you are 70, you spend a total of $300,000 on car payments alone (not to include, gas, insurance, repairs). That is a lot of years worth of work (unless you’re making $300,000 a yr).

As of 2006, the average life of a car is between 6.8 yrs and 9.2 yrs. If you take care of your car, you can surpass this lifespan quite easily I think. I am 30 and only just got the second car of my life 9 months ago. And only did that because my first got stolen and totaled.

Any amount of time you drive a car past the time when it is paid off you will be driving it for free (without a car payment). So to the extent you are trying to live modestly, you ought to try and drive your car as long as possible. The more yrs you can drive your car without having to make payments, the lower that $300,000 number I quoted above will be. And money that isn’t being spent on a depreciating car, is money that can be spent on more important stuff (retirement savings, kids’ college, mortgage payments, etc).

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